In a major hit for Wall Street, JP Morgan Chase disclosed a $2 billion loss on Thursday related to its credit investment portfolio. The trickle down effect could mean a loss of another $800 million in the second quarter for the bank’s Chief Investment Office. The Takeaway talks with Michael de la Merced, reporter for The New York Times' Deal Book.

In 1987, Wall Street came to be personified by the Oliver Stone film of the same name, by Michael Douglas’s Gordon Gekko. "The point is, ladies and gentlemen, that greed, for lack of a better word, is good," Gekko famously preached. Today, the Occupy Wall Street Movement seems to be fighting against this same idea. How, exactly, does the one percent feel about that? Edward Conard, former managing director of Bain Capital, offers his opinion.

Three years after America's largest financial collapse since the Great Depression, the country is still recovering. Some banks have received huge bailouts, but countless Americans are still struggling to get back on their feet. A new four-hour documentary, "Money, Power and Wall Street" investigates what has been done (and not done) to secure America's financial future. Michael Kirk is one of the producers of "Money, Power and Wall Street," which will premiere on Frontline April 24 and May 1 on your local PBS station.

In the days since former Goldman Sachs vice president Greg Smith resigned with a scalding New York Times Op-Ed, the company's reputation has come under fire on all sides. But how fair has the criticism been? And what can Goldman do to rehabilitate its image?

Former Goldman Sachs employee Greg Smith has cost the company more than $2 billion in stock value since his op-ed piece ran in the New York Times yesterday. Smith's very public jump from the company at the top of the Wall Street food chain has raised some questions about Goldman's internal culture, it's capacity to learn lessons from past mistakes and it's ability to control its own brand.

When Goldman Sachs employee Greg Smith handed in his letter of resignation, he did so in the most public manner possible — by posting it in the pages of The New York Times. In his letter, the former derivatives trader described the firm's working environment as "toxic and destructive" and accused their culture of placing company profits over client interest whenever possible.

Newt Gingrich’s ad campaign against front-runner Mitt Romney has been all about attacking his record at the private equity firm Bain Capital. Most recently, a pro-Gingrich super-PAC released a 28 minute film called "When Mitt Romney Came to Town" which portrays Romney as a "corporate raider" whose policies ran four companies into the ground for his own benefit. Given Republicans' long legacy of running on pro-business platforms and promoting laissez-faire legislation, this recent turn is highly ironic. But how the nominees are articulating these sentiments are decidedly different from their liberal counterparts.

In the aftermath of the financial crisis, Wall Street executives tried to deflect the blame onto various culprits — government-sponsored enterprises like Fannie May and Freddie Mac for keeping interest rates low, consumers who lied about their credit history, or annual income. But Michael Lewis, former CEO of failed bank IndyMAC, isn't blaming consumers or investors. Lewis, who has been accussed of fraud and misleading investors, is pointing the finger at regulators.

In spite of a judge's ruling banning their tents and sleeping bags, several hundred Occupy Wall Street demonstrators returned to Zuccotti Park Tuesday night, after being removed by New York City police officers in a pre-dawn raid. After a day of legal wrangling, a state Supreme Court judge told protesters the city's concerns over health and safety justified banning overnight camping. First Amendment battles between city governments and protesters are taking place in courtrooms around the country — and sometimes, on the ground between police and protesters as well.

Former New Jersey governor and Goldman Sachs executive Jon Corzine resigned as chairman and CEO of MF Global, the brokerage firm that filed for bankruptcy on Monday. Corzine has chosen to forfeit his $12 million severance package. Under Corzine's leadership, MF Global lost two-thirds of its market value. A federal investigation is now under way after MF Global disclosed that $630 million of customer money was missing. Corzine is said to have retained a criminal defense attorney. Michael de la Merced, reporter for The New York Times' DealBook, discusses the latest developments.

MF Global filed for Chapter 11 bankruptcy protection Monday morning, making the security firm possibly the U.S. casualty of the European debt crisis. Earlier in the morning, the firm, headed by former New Jersey governor and Goldman Sachs executive John Corzine, was suspended from conducting new business with the New York Federal Reserve. Under Corzine's leadership, MF Global made risky bets on European sovereign debt.

About 3,000 protesters took to the streets of Oakland on Wednesday night, following violent clashes between police and Occupy demonstrators late Tuesday. Police fired tear gas canisters and bean bag rounds at protesters. Protesters claim rubber bullets and flashbangs were used as well. A 24-year-old Iraq war veteran is in critical condition after being hit in the head with a police projectile. In New York, police arrested a dozen people Wednesday night during an Occupy solidarity march. Meanwhile in Atlanta, Mayor Kasim Reed ordered the evacuation of Occupy Atlanta protesters from the city’s Woodruff Park. That removal resulted in more than 50 arrests.

Former Goldman Sachs director Rajat Gupta surrendered to FBI officials on Wednesday morning. Gupta faces criminal charges in a massive hedge fund insider trading case. He has been under investigation over whether he leaked corporate secrets to Raj Rajaratnam, the co-founder of the hedge fund the Galleon Group. Rajaratnam was sentenced to 11 years in prison for trading on illegal stock tips earlier this month. Louise Story, Wall Street and finance reporter for The New York Times, has the latest details on the story.

When the TV cameras are gone, what is it like to spend the night at Occupy Wall Street? It's been a month since protesters first began to occupy Zuccotti Park, near Wall Street in New York City. Since then, temperatures have been dropping as the number of protesters in New York and across the globe grows. This leaves many wondering how many protesters will be left when winter hits. Well, we aimed to find out — and to understand better just who was spending the night there and why.

Bank of America and Goldman Sachs are scheduled to release their earnings reports for the third quarter today. Yesterday, Citigroup reported a 74 percent rise in their earnings and Wells Fargo reported a 21 percent increase, and last week JP Morgan reported a 4 percent fall in profits. Morgan Stanley and U.S. Bancorp are expected to release their reports on Wednesday.

All over the news — including here on The Takeaway — we've been hearing about Occupy Wall Street and the complaints of the "99 percent" against politicians and big corporate interests. But what exactly is the Occupy Wall Street movement alleging? One of the protesters' main complaints is that the political system is currently in the grips of corporate financial control. They may have a point, but how strong is their argument? Is our political system truly broken by the amount of money injected to campaign financing or by the lobbyists who peddle influence on K Street? Or, have money and special interests always been part of the political process?

After weeks of silence about the demonstrations in downtown New York and across the country, some of Wall Street biggest bankers are speaking up about the protests and the criticisms being leveled at them. The reaction comes just days after the protestors marched to the houses of J.P. Morgan's Jamie Dimon and hedge fund manager John Paulson.

The Occupy Wall Street movement is entering its fourth week and showing no signs of slowing down. What began as a loosely organized protest against corporate greed and the growing gap between rich and poor Americans has increased dramatically in terms of supporters, media coverage, and online discussions. Thousands of people have turned out for protests in lower Manhattan, and in dozens of other places across the country, including Boston, Miami, and the District of Columbia. Many media outlets have declared the leaderless Occupy movement to be the left's answer to the Tea Party movement, and others have likened it to the Arab Spring.

The Occupy Wall Street protests continue in lower Manhattan today. Demonstrators are protesting perceived excessive greed by the super-wealthy and economic inequality as epitomized by Wall Street. The protests have grown in popularity over the last three weeks, and similar events are happening all over the country, including cities like Boston and Miami. On Monday, The Takeaway spoke with J.A. Myerson, from the media team for the Occupy Wall Street movement, about why he's protesting and what future he sees for the movement.

Over 700 protesters from the Occupy Wall Street movement were arrested on Saturday while attempting to cross the Brooklyn Bridge. Police said the arrests were made because protesters were obstructing the roadway, though many protesters have charged that the NYPD tricked them by allowing them onto the bridge. The movement, now in its third week, has spread from a handful of protesters in New York's Zuccotti Park to demonstrations in Boston, Washington, Denver, Los Angeles, and other cities.